IR Acquires IQ Services
May 03 2015 - 7:33PM
Business Wire
Acquisition Extends Prognosis’ Capabilities to
Include Next Generation Testing of Unified Communications and
Contact Centers
Integrated Research (IR) is pleased to announce the strategic
acquisition of the US based IQ Services business.
The acquisition provides IR with a number of strategically
significant growth opportunities, both in its existing markets and
into new allied markets:
- Provides the only fully integrated
proactive systems management and testing product suite for Unified
Communications, including the management of Avaya, Cisco and
Microsoft’s Lync and Skype for Business environments.
- Acquires IQ Services cloud based SaaS
testing capabilities to provide a new growth area for the
company.
- Provides geographic expansion
opportunities for the acquired products into Europe and Asia as IQ
Services currently only operates in North America.
- Expands IR’s Prognosis product line to
provide the most in-depth and seamless approach to gauge the
customer’s experience and to isolate the root cause of customer
service problems within Unified Communications environments and
Contact Centers.
IR will pay US$1.5 million for the business, subject to
adjustments, with an effective date of 1 July 2015. There will also
be additional performance based earn-out payments over the next
three financial years contingent on meeting EBITDA milestones.
These earn-out payments are capped at US$3.5 million. The maximum
consideration for the acquisition is US$5.0 million based on
attaining the successful milestones.
“This acquisition is truly exciting as it strategically
positions Integrated Research to progressively expand into new
technological markets by providing a unique and fully integrated
proactive management architecture as well as leveraging our
existing customers and markets with substantial new offerings,”
said Steve Killelea, Chairman, IR.
Some of the other highlights of the transaction are:
- The acquisition will be funded out of
existing cash reserves, subject to the conditions precedent with an
effective date of 1 July 2015 for the first payment.
- The acquisition is expected to be EPS
accretive, exclusive of amortisation of intangible assets and other
non-cash items based on projections for FY16.
- IR’s range of solutions will be
extended to include proactive performance testing of next
generation services such as web real-time communication (WebRTC),
software defined networks (SDN), session initiation protocols
(SIP), Lync and Skype for Business.
“Organizations must ensure that their Contact Centers offer the
highest possible quality of customer interaction if they are to
remain competitive,” said Darc Rasmussen, CEO, IR. “The
complementary nature of Prognosis’ performance management and IQ
Services’ testing will provide unprecedented levels of insight into
unified communications & collaboration and contact center
ecosystems.” Further he said, “Customers can quickly take advantage
of the integrated solution to make decisions faster, resulting in
fewer outages.”
The combination of IR and IQ Services will create the world’s
most complete view of cloud, hybrid and traditional on premises
operations for unified communications & collaboration and
Contact Center solutions. IQ Services uniquely provides the means
to generate voice, data and video traffic to ensure WebRTC
interactions work as intended. By 2019, WebRTC will be utilized for
15% of enterprise voice and video communication, up from less than
1% today.
“We are extremely proud of what the employees of IQ Services
have achieved to date, especially our customer centric approach and
deep domain expertise,” said Russ Zilles, CEO, IQ Services. “The
acquisition by IR will mean that we can continue to develop this
passion with new likeminded colleagues and take our services to a
broader market. We are excited by the possibilities that this
brings to our customers, partners and employees.”
By Authority of the Board
Darc RasmussenCEO & Managing DirectorIntegrated Research
LimitedABN: 76 003 588 449
About IR
IR is the corporate brand name of Integrated Research Limited
(ASX:IRI), the leading global provider of proactive performance
management software for critical IT infrastructure, payments and
communications ecosystems. More than 1,000 organizations in over 60
countries—including some of the world’s largest banks, airlines and
telecommunication companies rely on IR Prognosis to provide
business critical insights and ensure continuity-critical systems
deliver high availability and performance for hundreds of millions
of their customers across the globe. For further information on IR,
visit www.ir.com.
Media Inquiries:IRKevin Ryder, +61 2 9966 1066media@ir.com
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